MyTU issues business Visa debit card with advanced API features

This new product, available to customers across the European Economic Area (EEA), enables businesses to issue both physical and virtual Visa cards and to manage expenses with ease, providing enhanced fraud protection, simplified tracking, and flexible spending limits. Through myTU’s API, myTU's business clients will also be able to efficiently manage business card issuance and related processes on behalf of their business partners, acting as agents for them. The API ensures that business partners retain full control over their own accounts, while allowing agents - myTU clients - to carry out tasks such as card issuance, balance checks, and PIN delivery.

As businesses grow, managing expenses becomes increasingly complex. myTU’s new business debit card addresses this challenge by allowing businesses to issue cards to individual employees or entire departments, simplifying expense management. Businesses can set custom spending limits, categorise transactions, and attach invoices to payments—all in real-time. The card also offers full control over who can access and use funds, significantly reducing the need for micromanagement and providing businesses with streamlined financial processes.

As with all of myTU’s products, the business debit card was made specifically for clients who are often overlooked by traditional banks. This includes businesses of all sizes and early-stage startups, which need flexible financial tools to manage expenses. It also covers financial service providers that traditional banks decline to onboard due to the complexity and costs of assessing their security and compliance. With this card, businesses gain access to convenient financial functions that are essential for doing business today.

Raman Korneu, CEO and co-founder of myTU, said: “Issuing business cards is part and parcel of myTU's strategy to be a universal neobank catering to both individual clients and businesses. In our own company, we faced similar pain points. Having just two business cards from other banks, issued under only my name, meant employees had to wait for my approval on every payment. Managing payments for different markets was also a nightmare, with outdated processes for ad spend and growing transaction volumes. We created this new offering to solve those problems, to help businesses streamline expenses and scale efficiently.”

One key feature of myTU's business cards is the ability for companies to issue as many cards as they need. With this feature, businesses can issue cards for travel, subscriptions, software, or department-specific expenses. For example, a company could issue cards for departments like marketing or sales, each with spending limits and restrictions tailored to that department’s needs. Tracking and monitoring of expenses is built-in, and secure payment options limit fraud risk and unauthorised transactions.

Through its proprietary API, myTU also offers business clients the ability to issue cards to their business partners. Potential use cases for this “B2B2B” are wide: a fuel card company could act as a card agent for a logistics firm; a contractor management company can streamline relationships with an independent contractor, etc.

With plans to issue over 50,000 business cards over the next two years, myTU will continue to cater to the evolving needs of its digital bank clients. The card solution, like all myTU offerings, is designed to be user-friendly, with lower fees than traditional banks and the flexibility to scale with a company’s growth.